cryptoknowmics.com
One River Digital, an institutional-focused digital asset manager backed by Alan Howard has raised $41 million from new investors that included Goldman Sachs Inc and Coinbase Global Inc.
One River Digital Secures Series A Investment
Multinational investment bank Goldman Sachs and U.S.-based cryptocurrency exchange Coinbase has acquired a minority stake in One River Digital, a crypto-focused asset manager for institutional clients, according to an official press release.
The Series A funding round valued the company at $186 million. Other participation included insurer Liberty Mutual Group Inc., London investment firm Infinity Investment Partners, and a European family office.
Currently, One River Digital Asset Management manages two funds, a Bitcoin fund and an Ethereum fund alongside a most recently opened fund that fund manager Alan Howard has used to invest in Solana.
In addition, the asset manager is also developing an index for those cryptocurrencies that meet the institutional standards for liquidity, security, decentralized ownership, and function.
Eric Peters, CEO and CIO of One River Digital, said:
"Collaboration and perspective are keys to success in any transformative pursuit. We are fortunate to bring together a focused group of committed strategic investors who are clear leaders in their respective fields and who share our vision that the transition of financial transactions to a digital world will present vast opportunities."
Advisory Council Include Prominent Officials
In March, former U.S. Securities and Exchange Commission Chairman Jay Clayton joined One River’s advisory council along with economist Jon Orszag and former White House adviser Kevin Hassett alongside several other prominent former officials.
One River Digital was founded in 2020 as a subsidiary of One River Asset Management and has since cashed $1.25 billion and returned the money to investors. Its three crypto funds currently hold about $500 million.
In addition, the firm also offers a range of crypto-linked products, including ERISA-compliant digital asset commingled funds, 365-day liquidity funds, and carbon-neutral investment funds.